Horses and jockeys walk around the paddock area at the Louisiana Derby on Saturday, March 29, 2014 at the Fair Grounds Race Course & Slots in New Orleans. (Photo by Chris Granger, Nola.com | The Times-Picayune)

Despite pledges by Churchill Downs Inc. to re-invest in several lagging areas at the Fair Grounds, the Louisiana State Racing Commission hasn't been convinced.

After almost two hours of discussion at a Tuesday meeting, the Racing Commission decided to defer the company's rolling 10-year license to hold live racing at the Fair Grounds and operate its off-track betting parlors in Louisiana.

The Commission will hold a special meeting May 1 to discuss the license request. Churchill Downs Inc. has been asked to provide short- and long-term strategic plans in four areas: marketing, the turf course, service and other facilities.